Baird Financial Group Inc. Acquires 5,139 Shares of Cadence Design Systems, Inc. $CDNS

Baird Financial Group Inc. increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,702 shares of the software maker’s stock after purchasing an additional 5,139 shares during the period. Baird Financial Group Inc.’s holdings in Cadence Design Systems were worth $21,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDNS. Arizona State Retirement System increased its position in Cadence Design Systems by 2.7% during the second quarter. Arizona State Retirement System now owns 76,610 shares of the software maker’s stock valued at $28,753,000 after acquiring an additional 2,032 shares during the last quarter. West Family Investments Inc. raised its position in shares of Cadence Design Systems by 8.6% in the 2nd quarter. West Family Investments Inc. now owns 820 shares of the software maker’s stock worth $308,000 after acquiring an additional 65 shares in the last quarter. Empirical Finance LLC grew its holdings in Cadence Design Systems by 3.5% in the second quarter. Empirical Finance LLC now owns 9,425 shares of the software maker’s stock worth $3,537,000 after purchasing an additional 321 shares during the last quarter. Nykredit A S acquired a new position in shares of Cadence Design Systems during the second quarter valued at about $216,086,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Cadence Design Systems by 683.4% in the second quarter. Parkside Financial Bank & Trust now owns 5,907 shares of the software maker’s stock valued at $2,217,000 after purchasing an additional 5,153 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CDNS has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rosenblatt Securities raised their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Robert W. Baird lifted their price target on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $403.88.

Insider Transactions at Cadence Design Systems

In other news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total transaction of $401,100.00. Following the sale, the director owned 40,794 shares in the company, valued at $13,089,978.72. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the transaction, the vice president directly owned 124,586 shares of the company’s stock, valued at approximately $40,281,145.52. This represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,530 shares of company stock worth $1,924,660 in the last three months. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Trading Up 1.6%

NASDAQ CDNS opened at $289.37 on Friday. The firm’s fifty day moving average is $332.84 and its two-hundred day moving average is $333.50. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm has a market cap of $79.69 billion, a PE ratio of 57.53, a P/E/G ratio of 3.06 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.